APN 541 St Kilda Road Fund

APN 541 St Kilda Road Fund

APN 541 St Kilda Road Fund

APN 541 St Kilda Road Fund (ARSN: 160 546 529) (the “Fund”) is a single asset direct property fund which owns 541 St Kilda Road, Melbourne (the "Property") - a modern, substantially refurbished eight storey commercial office building located in the heart of one of Australia's leading non-CBD office markets1. Seek Limited (“SEEK”), an ASX 100 company and Australia’s leading provider of online employment advertising occupies 94% of the property. The Fund is closed to new applications.

Fund update 22 Dec 2014 – Final capital return and Fund termination

We are pleased to confirm that the contract warranty period in relation to the sale of 541 St Kilda Road (the Property) has expired without any claims being received. Accordingly, following reconciliations of previously estimated accruals and provisions, the final capital return has been determined as $0.0809 per unit, with payment being made to all unit holders on 22 December 2014. The Fund has now commenced the termination process and following its completion APN Funds Management Limited will issue final taxation statements and unit cancellation notices. Indicatively this is expected to occur in March / April 2015.

Following the conclusion of the sale of the Property, unit holders have received a total tax advantaged return of 29%, comprising net sale proceeds of $1.1777 per unit and monthly distributions of 0.75 cents per unit (equivalent to a 9.0% p.a. yield on the $1.00 issue price) until the Property’s disposal on 13 August 2014.

In response to significant interest in new direct property investment opportunities, please find a link to a Registration of Interest Form in relation to future investment opportunities.

Further information

If you have any questions in relation to the sale of the property, the Fund or further investment opportunities with APN, please contact your Adviser or APN Investor Services on 1800 996 456 Monday to Friday between 8:30am and 5:30pm Melbourne time.

Based on net absorption of 20,000m2 in the 12 months to September 2012. Source: Jones Lang LaSalle.